Freestone Grove Partners LP Makes New $5.13 Million Investment in Owens & Minor, Inc. (NYSE:OMI)

Freestone Grove Partners LP bought a new stake in shares of Owens & Minor, Inc. (NYSE:OMI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 392,115 shares of the company’s stock, valued at approximately $5,125,000. Freestone Grove Partners LP owned approximately 0.51% of Owens & Minor at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sterling Capital Management LLC increased its holdings in shares of Owens & Minor by 758.3% during the fourth quarter. Sterling Capital Management LLC now owns 2,060 shares of the company’s stock valued at $27,000 after acquiring an additional 1,820 shares in the last quarter. Blue Trust Inc. increased its stake in Owens & Minor by 57.4% during the 4th quarter. Blue Trust Inc. now owns 4,387 shares of the company’s stock valued at $57,000 after purchasing an additional 1,600 shares in the last quarter. KBC Group NV increased its stake in Owens & Minor by 98.2% during the 4th quarter. KBC Group NV now owns 4,434 shares of the company’s stock valued at $58,000 after purchasing an additional 2,197 shares in the last quarter. Guggenheim Capital LLC purchased a new position in Owens & Minor in the fourth quarter worth about $166,000. Finally, Optimize Financial Inc bought a new position in shares of Owens & Minor in the fourth quarter worth approximately $184,000. 98.04% of the stock is owned by hedge funds and other institutional investors.

Owens & Minor Trading Up 7.0 %

Shares of NYSE:OMI opened at $7.46 on Friday. The stock’s 50-day simple moving average is $8.23 and its two-hundred day simple moving average is $11.03. The stock has a market capitalization of $575.94 million, a price-to-earnings ratio of -11.47, a PEG ratio of 0.20 and a beta of 1.02. Owens & Minor, Inc. has a 52-week low of $6.07 and a 52-week high of $23.87. The company has a debt-to-equity ratio of 2.11, a quick ratio of 0.45 and a current ratio of 1.09.

Owens & Minor (NYSE:OMI) last posted its quarterly earnings data on Friday, February 28th. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. Owens & Minor had a negative net margin of 0.46% and a positive return on equity of 14.60%. The company had revenue of $2.70 billion for the quarter, compared to the consensus estimate of $2.68 billion. During the same quarter last year, the firm posted $0.69 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. Analysts expect that Owens & Minor, Inc. will post 1.51 EPS for the current year.

Owens & Minor announced that its Board of Directors has initiated a share buyback program on Friday, February 28th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase up to 13.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. UBS Group decreased their price objective on shares of Owens & Minor from $25.00 to $13.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Robert W. Baird upped their price target on Owens & Minor from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Monday, March 3rd. Citigroup dropped their price objective on Owens & Minor from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Finally, JPMorgan Chase & Co. decreased their target price on Owens & Minor from $14.00 to $10.00 and set an “underweight” rating for the company in a research report on Monday, March 10th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $12.50.

Insider Transactions at Owens & Minor

In other news, major shareholder Coliseum Capital Management, L bought 1,738,511 shares of Owens & Minor stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average cost of $9.39 per share, with a total value of $16,324,618.29. Following the acquisition, the insider now owns 9,469,698 shares of the company’s stock, valued at $88,920,464.22. The trade was a 22.49 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders purchased 2,718,412 shares of company stock worth $24,495,308 in the last three months. Corporate insiders own 3.69% of the company’s stock.

Owens & Minor Company Profile

Owens & Minor, Inc is a healthcare solutions company, which engages in the product manufacturing and delivery, home health supply, and perioperative services to support care through the hospital and into the home. It operates through the Products and Healthcare Services, and Patient Direct segments.